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5 - Capitalist Stakeholders
from Part II - Jurisdictions
- By Daniel Daeniker, Gérard Hertig
Edited by Dionysia Katelouzou, King's College London, Dan W. Puchniak, National University of Singapore
Book:

Global Shareholder Stewardship

Published online:

28 April 2022

Print publication:

12 May 2022, pp 111-129
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Summary

There is no question that Switzerland embraces capitalism and has a market-oriented economy. At the same time, a grassroots-oriented political system has allowed for the emergence of a uniquely Swiss stakeholder-oriented business regime. Hence, Swiss corporate law generally embraces the stakeholder principle to a larger degree than the shareholder-oriented Anglo-Saxon world. Stakeholder interests are given significant weight by the courts and this, in turn, lays the foundation for responsible shareholder behaviour, in family companies and otherwise. However, shareholder stewardship initiatives have yet to gain traction in Switzerland. Responsible conduct in the business environment remains a concern for public opinion, a good example being that Switzerland has become an experimental field for a variety of stewardship-related popular initiatives.